Centuria Industrial REIT (ASX:CIP): 1H19 Results Presentation

Company Presentations

Centuria Industrial REIT (ASX:CIP) Fund Manager, Ross Lees, presents the company's 1H19 results.


Maintain leasing momentum:

  • Occupancy improved to 97.1% (94.5% at FY18)
  • Leases agreed for 65,902sqm (8% of the portfolio) in 1H19
  • Remaining lease expiry in FY19 is 1.5% of portfolio

Improve Victoria portfolio:
  • Over 52,000sqm leased in the half
  • Occupancy now above 96%
  • Transacted $52 million of assets in 1H19 to improve portfolio quality

Prudently manage debt:
  • Reduced gearing to 37%
  • Refinanced $210 million of debt, introduced new lender
  • No debt maturing until May 2020

Continue to maximise ROE:
  • 12 month return on equity of 15.8%
  • Revaluations driving NTA increase of 3.9% in 1H19

Deliver FY19 earnings guidance:
  • 1H19 distributable earnings of 9.3cpu, distribution of 9.2cpu delivered
  • Guidance for distributable earnings per unit of 18.5 - 19.0cpu, distribution per unit of 18.4cpu reiterated

For more, watch Fund Manager Ross Lees present.